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Author: 


First  Trust  &  Deposit 
Company... 

Title: 

The  story  of  a  bank 


Place: 


Syracuse 


Date: 


[1919] 


MASTER  NEGATIVE  # 


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733 

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First  trunt  o;  deposit  conpany,  Syracuse,  lUY. 

?ho  story  of  a  bank;  bein{^  a  brie'"  histori/  of 
the  First  trust  h  deposit  conpany,  18r)3-1919, 
Llyracuso,  ll.Y,  ^I^IO^ 

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SCHOOL  OF  BUSINESS 


I 


THE    STORY    OF  A  BANK 


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♦ 


To 
THE  FRIENDS 

whose  loyalty,  confidence  and 
business  relationship,  have  made 
possible  the  continuous  growth  of 
our  institution,  this  story  of  service 

is 

DEDICATED 

by  the  Officers  and  Directors 

of  the 

First  Trust  &  Deposit 

Company 


THE  STORY  OF  A  BANK 

BEING  A  BRIEF  HISTORY 
OF  THE 

FIRST  TRUST  8i  DEPOSIT 
COMPANY 


1863 


FIRST  TRUST 

&2  DEPOSIT  COMPANY 

SYRACUSE  N.Y. 


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CONTENTS 

CHAPTER  I 

Page 

The  Trust  &  Deposit  Company  of  Onondaga      -       -       -  12 

CHAPTER  H 

The  First  National  Bank  of  Syracuse 39 

Official  Roster,  1868—1919      -       - 57 

« 
ILLUSTRATIONS 

Main  Office,  First  Trust  &  Deposit  Company              -       -  10 

North  Side  of  Hanover  Square,  1866 16 

North  Side  of  Hanover  Square,  1869 18 

Arthur  W.  Loasby,  President  of  the  First  Trust  & 

Deposit  Company      -. 22 

Vice  Presidents 24 

Secretaries  and  Treasurers 26 

Cook's  Coffee  House,  1865 30 

North  Side  Office,  100  North  Salina  Street           -       -       -  40 

The  President's  Office 42 

The  Banking  Room 44 

The  Directors'  Room 46 

Reception  Room  for  Women 48 

The  Safe  Deposit  Department 50 

View  of  the  Banking  Room  from  the  Balcony     -       -       -  52 

The  Bookkeeping  Department        ------  54 


% 


I 


I 


I 


THE    STORY   OF  A  BANK 

CHAPTER  I 

TRUST  &  DEPOSIT  COMPANY 
OF  ONONDAGA 

The  humble  walls  that  marked  its  birth 
Were  built  on  honor,  truth  and  worth; 
Today  it  proudly  lifts  in  air 
To  Faith  and  Thrift  a  temple  fair! 

1804  the  Legislature  of  the  State  of  New 
York  authorized  the  conveyance  of  250  acres 
of  land,  which  now  forms  substantially  the 
business  section  of  Syracuse,  to  Abraham  Wal- 
ton for  $26.60  an  acre.  The  hamlet  which  grew 
up  on  the  Walton  Tract  was  first  called 
"Bogardus  Corners,"  and,  later,  successively, 
as  it  developed  first  into  a  village  and  then  a  city, 
"Cossits  Corners,"  "South  SaHna,"  "Milan," 
"Corinth"  and  "Syracuse,"  which  last  name  it 
took  in  1819.  In  1913,  the  sixty-fifth  year  after 
the  incorporation  of  the  city,  the  plot  forming  a 
part  of  one  of  the  acres  of  the  Walton  purchase, 
sixty-six   by   sixty-six   feet,  which   forms  the 


12 


THE    STORY    OF  A  BANK 


THE    STORY    OF  A  BANK 


13 


n 


I 


Warren  Street  front  of  the  banking  house  of 
the  First  Trust  &  Deposit  Company,  was 
sold  to  the  First  National  Bank  of  Syracuse 
with  the  old  building  upon  it,  which  did  not 
add  materially  to  its  value,  for  $132,000. 

The  village  of  Syracuse  was  incorporated  in 
1825,  the  city  in  1848.  Among  its  citizens 
were  men  with  faith  in  the  future  and  of  cour- 
age and  enterprise  in  affairs  of  business.  One 
group  of  these  subscribed  the  articles  of  asso- 
ciation of  the  First  National  Bank  of  Syracuse 
on  April  11,  1863,  in  the  dark  days  before 
Gettysburg  was  fought  and  Vicksburg  fell. 
Another  received  the  charter  of  the  Trust  & 
Deposit  Company  of  Onondaga  on  May  4, 
1866,  when  the  tremendous  debt  incurred  in 
the  Civil  War  and  the  staggering  problems 
which  the  country  faced,  greatly  discouraged 
business  initiative.  Both  institutions  grew  to 
be  leaders  in  the  fields  of  banking  which  they 
had  chosen. 

The  new  Trust  Company  opened  its  doors 
for  business  in  1869.     It  took  over  the  assets 


and  business  of  the  First  National  Bank  on 
January  1,  1919,  the  latter  surrendering  its 
charter.  The  consolidation  of  the  two  insti- 
tutions upon  the  semi-centennial  of  the  Trust 
Company  makes  the  time  appropriate  to  pre- 
sent to  the  public  which  the  two  banks  have 
served  in  the  past,  and  which  the  Trust  Com- 
pany will  serve  in  the  future,  the  two  histori- 
cal sketches  herein  contained. 

The  group  of  representative  citizens,  men 
concerned  in  the  commercial,  financial,  indus- 
trial and  civic  interests  of  the  city,  who  pro- 
jected the  Trust  &  Deposit  Company  of 
Onondaga,  had  faith  in  the  future  of  the  little 
city.  They  believed  that  Syracuse  was  certain 
to  share  in  the  continued  unrivaled  growth  of 
the  Empire  State.  They  had  confidence  that 
the  central  city  of  the  commonwealth,  midway 
between  the  Hudson  and  Lake  Erie,  would 
become  an  important  business  center,  and  that 
the  consequent  advance  in  population  and 
industry  would  require  continuously  greater 
banking  facilities. 


14 


THE    STORY   OF  A  BANK 


THE    STORY    OF  A  BANK 


15 


Their  names  and  respective  subscriptions  to 
the  company's  authorized  capital  of  $100,000, 


were: 


shares 

SHARES 

A.  A.  HOWLETT 

50 

Jacob  Grouse 

50 

H.  W.  Van  Buren 

50 

E.  B.  Judson 

50 

T.  B.  Fitch 

50 

J.  Terwilliger 

50 

E.  B.  Wicks 

50 

Geo.  J.  Gardner 

30 

J  AS.  M.  Ellis 

50 

Jas.  Franchot 

50 

W.  B.  Smith 

50 

Allen  Munroe 

50 

Lyman  Clary 

50 

W.  D.  Stewart 

10 

O.  C.  Potter 

50 

R.  Franchot 

50 

Frank  Hiscock 

50 

D.  A.  Moore 

50 

J  AS.  J.  Belden 

50 

Silas  F.  Smith 

10 

A.  C.  Powell 

50 

W.  J.  Hough 

50 

E.  S.  Dawson 

50 

C.  E.  Smith 

50 

J.  J.  Glass 

50 

D.  P.  Phelps 

50 

J.  W.  Barker 

50 

Henry  Gifford 

50 

G.  P.  Ken  YON 

50 

W.  A.  Judson 

50 

C.  B.  Sedgwick 

50 

G.  F.  COMSTOCK 

25 

G.  M.  Kennedy 

50 

T.  G.  Alvord 

25 

C.  Andrews 

50 

John  J.  Grouse 

50 

John  A.  Green 

50 

R.  G.  Wynkoop 

10 

C.  T.  Longstreet 

50 

J.  Gorkey,  Agt. 

5 

D.  P.  Wood 

50 

E.  W.  Leavenworth 

50 

N.  F.  Graves 

50 

Of  these  men,  many  were  later  distinguished 
in  various  fields.    Frank  Hiscock  rose  to  be  a 


member  of  the  United  States  Senate  and  a 
leader  among  the  able  and  brilliant  members 
of  that  body.  James  J.  Belden  became  Mayor 
of  Syracuse,  a  Representative  in  Congress  and 
a  financier  of  wide  repute.  Charles  Andrews, 
after  being  Mayor  of  Syracuse,  entered  upon 
a  long  judicial  career  which  finally  led  to  his 
elevation  to  the  office  of  Chief  Judge  of  The 
Court  of  Appeals  of  the  State  of  New  York. 
George  F.  Comstock  was  made  a  member  of 
the  same  court.  George  N.  Kennedy  became  a 
Justice  of  The  Supreme  Court  of  the  State. 
Elias  Leavenworth  was  Mayor  of  Syracuse  and 
President  of  the  Syracuse  Savings  Bank. 
E.  B.  Judson  was  the  organizer  and  first 
President  of  the  First  National  Bank  of  Syra- 
cuse and  Mayor  of  the  City.  E.  S.  Dawson 
became  President  of  the  Onondaga  County 
Savings  Bank.  To  others  reference  will  be 
made  later. 

After  the  grant  of  the  charter  by  the  Legis- 
lature on  May  4,    1866,   many   stockholders' 


THE    STORY   OF  A  BANK 


17 


- 


North  Side  of  Hanover  Square,  1866 


meetings  were  held  to  discuss  the  plan  and 
scope  of  the  coming  institution. 

In  1866  Syracuse  could  not  be  hurried.  It 
had  many  citizens  who  recalled  the  past  as  if 
it  were  yesterday — the  coming  of  the  "Monte- 
zuma," first  of  canal  boats,  in  1820;  the  mighty 
development  of  the  salt  industry  in  the  '30s; 
the  arrival  of  the  first  railway  train  in  '39. 
They  recalled,  too,  the  visit  of  Lafayette  in  '25, 
the  coming  of  Henry  Clay  in  '39,  the  famous 
Jerry  Rescue  case  in  '51.  Shaken  a  little  by 
the  four  years  of  the  Civil  War,  in  which  Syra- 
cuse had  borne  a  loyal  and  manly  part,  the  city 
still  camped  on  the  borderland  between  village 
stolidity  and  the  civic  energy  characteristic  of 
the  modern  city. 

It  was  not  until  March  28,  1868,  that  the 
founders  effected  an  organization — Cornelius 
T.  Longstreet,  merchant  and  financier,  was 
elected  president,  and  Daniel  P.  Wood,  vice- 
president.  In  September,  Mr.  Longstreet  re- 
signed, holding  his  office,  however,  until 
the  election  of  a  successor.  On  December  14, 


THE    STORY    OF  A  BANK 


17 


North  Side  of  Hanover  Square,  1866 


* 


meetings  were  held  to  discuss  the  plan  and 
scope  of  the  coming  institution. 

In  1866  Syracuse  could  not  be  hurried.  It 
had  many  citizens  who  recalled  the  past  as  if 
it  were  yesterday — the  coming  of  the  "Monte- 
zuma," first  of  canal  boats,  in  1820;  the  mighty 
development  of  the  salt  industry  in  the  '30s; 
the  arrival  of  the  first  railway  train  in  '39. 
They  recalled,  too,  the  visit  of  Lafayette  in  '25, 
the  coming  of  Henry  Clay  in  '39,  the  famous 
Jerry  Rescue  case  in  '51.  Shaken  a  little  by 
the  four  years  of  the  Civil  War,  in  which  Syra- 
cuse had  borne  a  loyal  and  manly  part,  the  city 
still  camped  on  the  borderland  between  village 
stolidity  and  the  civic  energy  characteristic  of 
the  modern  city. 

It  was  not  until  March  28,  1868,  that  the 
founders  effected  an  organization — Cornelius 
T.  Longstreet,  merchant  and  financier,  was 
elected  president,  and  Daniel  P.  Wood,  vice- 
president.  In  September,  Mr.  Longstreet  re- 
signed, holding  his  office,  however,  until 
the  election  of  a  successor.  On  December  14, 


THE    STORY   OF  A  BANK 


19 


North  Side  of  Hanover  Square,  1869 


the  following  officers  were  chosen— the  first 
official  roll  of  the  new  institution: 

PRESIDENT 

Dudley  P.  Phelps 

VICE-PRESIDENTS 

Daniel  P.  Wood  Edward  B.  Judson 

EXECUTIVE  committee 

Edward  B.  Judson  Allen  Munroe 

T.  B.  Fitch  E.  W.  Leavenworth 

James  J.  Belden  Daniel  P.  Wood 

President  Phelps,  one  of  the  founders  of  the 
institution,  lawyer,  early  railroader,  banker. 
Treasurer  of  the  Onondaga  County  Savings 
Bank  at  the  time  of  his  election,  brought  eight 
years  of  banking  experience  to  the  new  institu- 
tion. Of  the  vice-presidents,  Daniel  P.  Wood, 
lawyer  and  distinguished  legislator,  was  presi- 
dent of  the  Onondaga  County  Savings  Bank 
and  one  of  the  most  active  and  useful  of 
Syracusans.  He  held  a  vice-presidency  in  the 
Trust  &  Deposit  Company  until  his  death  in 
1891.  The  second  vice-president  was  Edward 
B.  Judson,  to  whom  we  have  referred  above. 


North  Side  of  Hanover  Square,  1869 


THE    STORY    OF  A  BANK 


19 


the  following  officers  were  chosen— the   first 
official  roll  of  the  new  institution: 

PRESIDENT 

Dudley  P.  Phelps 

VICE-PRESIDENTS 

Daniel  P.  Wood  Edward  B.  Judson 

EXECUTIVE  committee 

Edward  B.  Judson  Allen  Munroe 

T.  B.  Fitch  E.  W.  Leavenworth 

James  J.  Belden  Daniel  P.  Wood 

President  Phelps,  one  of  the  founders  of  the 
institution,  lawyer,  early  railroader,  banker, 
Treasurer  of  the  Onondaga  County  Savings 
Bank  at  the  time  of  his  election,  brought  eight 
years  of  banking  experience  to  the  new  institu- 
tion. Of  the  vice-presidents,  Daniel  P.  Wood, 
lawyer  and  distinguished  legislator,  was  presi- 
dent of  the  Onondaga  County  Savings  Bank 
and  one  of  the  most  active  and  useful  of 
Syracusans.  He  held  a  vice-presidency  in  the 
Trust  &  Deposit  Company  until  his  death  in 
1891.  The  second  vice-president  was  Edward 
B.  Judson,  to  whom  we  have  referred  above, 


20 


THE    STORY    OF  A  BANK 


and  who  was  well  known  as  a  financier  through 
his  connection  with  the  First  National  Bank 
of  Syracuse. 

Each  of  the  members  of  the  executive  com- 
mittee of  the  new  company  was  a  man  of 
practical  banking  experience. 

In  the  spring  of  1869,  fifty  years  ago,  the 
company,  the  seventh  trust  company,  in  the 
order  of  their  incorporation,  in  the  state,  began 
business  in  four  leased  rooms  in  the  basement 
of  what  was  then  the  new  Onondaga  County 
Savings  Bank  Building,  now  the  Gridley  Build- 
ing, with  Matthew  J.  Myers  as  secretary.  It 
made  its  bid  for  popular  favor  in  a  modest 
fashion  and  awaited  it  hopefully. 

The  accompanying  engravings  showing  the 
appearance  of  the  north  side  of  Hanover 
Square  just  prior  to  1869  and  in  1869,  after  the 
western  part  of  the  Onondaga  County  Savings 
Bank  had  been  erected,  will  be  found  inter- 
esting. 

During  its  earlier  years  the  company  carried 
on  a  commercial  banking  business,  but  in  the 


THE    STORY    OF  A  BANK 


21 


winter  of  1872  a  readjustment  was  made,  and 
while  it  was  considered  advisable  to  continue 
the  commercial  business  in  a  manner  that 
would  benefit  the  company's  stockholders,  it 
was  decided  that  this  should  be  done  through  a 
state  or  national  bank  that  could  take  over  the 
commercial  banking  business. 

The  State  Bank  of  Syracuse,  therefore,  was 
organized  in  1872  by  stockholders  of  the  Trust 
Company,  whereby  mutually  beneficial  rela- 
tions were  established  between  the  two  cor- 
porations. It  was  agreed  on  January  15, 1873, 
that  the  business  of  both  banks  should  be 
carried  on  in  the  rooms  occupied  by  the  Trust 
&  Deposit  Company  and  that  so  far  as  pos- 
sible the  same  officers  and  subordinates  should 
conduct  both.  On  February  1,  the  State  Bank 
began  business.  The  discounts  of  the  Trust 
&  Deposit  were  turned  over  to  the  new 
organization,  and  savings  and  the  administra- 
tion and  execution  of  trusts  became  practically 
the  former  institution's  only  business.  Dudley 
P.  Phelps  was  president  of  each  of  the  affiliated 


Arthur  W.  Loasby 
President  of  the  First  Trust  &  Deposit  Company 


A 


.^v*.^;-''  ■ 


THE    STORY    OF  A   BANK 


23 


institutions  and  Matthew  J.  Myers,  secretary. 

The  next  five  years  were  uneventful,  but 
both  company  and  city  showed  marked  prog- 
ress. Syracuse  was  nearing  the  55,000  popu- 
lation mark.  It  had  added  territory  and  another 
railroad  and  its  famous  university. 

In  March,  1878,  John  J.  Grouse,  a  leading 
merchant,  mayor  of  Syracuse  in  the  Nation's 
centennial  year,  was  elected  president,  George 
Barnes  and  Matthew  J.  Myers,  vice-presidents, 
and  James  Barnes,  secretary. 

Late  in  1880  arrangements  were  made  for 
new  quarters  in  the  southwest  corner  of  the 
ground  floor  of  the  Syracuse  Savings  Bank 
Building,  erected  in  1876,  and  shown  in  the 
engraving,  and  there  the  company  presently 
found  facilities  which  largely  stimulated  its 
growth. 

President  Grouse  resigned  in  January,  1881, 
and  Joel  Thayer,  of  Skaneateles,took  his  place. 
Death  soon  cut  short  President  Thayer's 
activities  and  in  June,  1881,  George  Barnes, 
railroad  promoter,  publicist  and  manufacturer, 


THE    STORY    OF  A   BANK 


23 


Arthur  \V.  Loasby 
President  of  the  I'irst  Trust  &  Deposit  Company 


institutions  and  Matthew  J.  Myers,  secretary. 

The  next  five  years  were  uneventful,  but 
both  company  and  city  showed  marked  prog- 
ress. Syracuse  was  nearing  the  55,000  popu- 
lation mark.  It  had  added  territory  and  another 
railroad  and  its  famous  university. 

In  March,  1878,  John  J.  Grouse,  a  leading 
merchant,  mayor  of  Syracuse  in  the  Nation's 
centennial  year,  was  elected  president,  George 
Barnes  and  Matthew  J.  Myers,  vice-presidents, 
and  James  Barnes,  secretary. 

Late  in  1880  arrangements  were  made  for 
new  quarters  in  the  southwest  corner  of  the 
ground  floor  of  the  Syracuse  Savings  Bank 
Building,  erected  in  1876,  and  shown  in  the 
engraving,  and  there  the  company  presently 
found  facilities  which  largely  stimulated  its 
growth. 

President  Grouse  resigned  in  January,  1881, 
and  Joel  Thayer,  of  Skaneateles,took  his  place. 
Death  soon  cut  short  President  Thayer's 
activities  and  in  June,  1881,  George  Barnes, 
railroad  promoter,  publicist  and  manufacturer, 


THE    STORY   OF  A  BANK 


25 


was  elected  to  the  vacancy  and  held  the  office 
for  seven  years. 

In  February,  1882,  Frank  Hiscock  became 
one  of  the  two  vice-presidents,  the  other  being 
Jonathan  C.  Chase.  The  accession  of  Mr. 
Hiscock  to  the  board  proved  a  developing  and 
helpful  factor  in  the  company's  progress.  At 
the  time  of  his  election  he  was  a  member  of 
Congress,  and  five  years  later  his  election  to 
the  United  States  Senate  took  place. 

President  Barnes  resigned  in  1888  because 
of  failing  health,  and  Francis  Hendricks  was 
elected  in  his  stead.  Mr.  Barnes  remained  as 
a  Director  until  his  death  in  1892. 

Following  the  death  of  Mr.  Barnes,  the  vice- 
presidency  was  filled  by  the  election  of  Frank 
H.  Hiscock,  one  of  the  leading  lawyers  of  the 
state.  His  elevation  to  the  State  Supreme 
Court  Bench,  in  1896,  caused  a  severance  of 
his  connection  with  the  company  as  one  of  its 
officers.  After  several  years  in  the  Supreme 
Court,  Mr.  Hiscock  became  an  Associate 
Judge  of  the  Court  of  Appeals  of  the  State,  and 


4 


THE    STORY    OF   A   BANK 


25 


Lucius  M.  Kinno 


THi: 

VICK-PRKSini-.M^ 

THKI  IR^TTR^^rMH.I•'^■^lT 
<  OMIVWY 


Fredk  W.  Barker 


Louis  S.  Brady 


I  'J  I  'I 


Edward  S.  Tcfft 


Mercer  V.  White 


was  elected  to  the  vacancy  and  held  the  office 
for  seven  years. 

In  February,  1882,  Frank  Hiscock  became 
one  of  the  two  vice-presidents,  the  other  being 
Jonathan  C.  Chase.  The  accession  of  Mr. 
Hiscock  to  the  board  proved  a  developing  and 
helpful  factor  in  the  company's  progress.  At 
the  time  of  his  election  he  was  a  member  of 
Congress,  and  five  years  later  his  election  to 
the  United  States  Senate  took  place. 

President  Barnes  resigned  in  1888  because 
of  faiHng  health,  and  Francis  Hendricks  was 
elected  in  his  stead.  Mr.  Barnes  remained  as 
a  Director  until  his  death  in  1892. 

Following  the  death  of  Mr.  Barnes,  the  vice- 
presidency  was  filled  by  the  election  of  Frank 
H.  Hiscock,  one  of  the  leading  lawyers  of  the 
state.  His  elevation  to  the  State  Supreme 
Court  Bench,  in  1896,  caused  a  severance  of 
his  connection  with  the  company  as  one  of  its 
officers.  After  several  years  in  the  Supreme 
Court,  Mr.  Hiscock  became  an  Associate 
Judge  of  the  Court  of  Appeals  of  the  State,  and 


Thorp  Hiscock 
Assistattt  Stcretary 


Albert  B.  Merrill 
Assistant  Secretary 


:i 


Frederick  E.  Maurer 
Secretary 


£ 


hrff 


Thomas  J.  Waldorf 
Assistant  Secretary 


Harry  W.  Parrctt 
Assistant  Secretary 


George  A.  Cholet 
Assistant  Treasurer 


William  A.  Boyd 
Treasurrr 


Eugene  A.  Tholens 
Assistant  Treasurer 


,    ,.,  ■■^.f.i...^,.ii.  ..■■■^^m.....i....>l..^»t»>tk^.ii>ii>>in>i  iiV>i^»«>i>>^ 


I 


THE    STORY   OF  A  BANK 


27 


fl 
% 


\ 


in  1916  was  elected  Chief  Judge,  being  the 
second  of  those  closely  connected  with  the 
Trust  Company  to  fill  that  high  position. 

Both  the  company  and  the  city  grew  rapidly 
during  the  years  between  1880  and  1890.  The 
population  of  Syracuse  more  than  doubled  in 
the  ten  years,  increasing  from  51,792  in  1880 
to  108,374  in  1890.  The  city  had  advanced  in 
many  other  ways,  notably  in  the  extent  and 
variety  of  its  manufacturing  plants,  and  the 
officers  and  directors  of  the  Trust  &  Deposit 
Company  on  its  twentieth  birthday  felt  that 
the  progress  of  the  institution  was  commen- 
surate with  that  of  the  rapidly  advancing  city. 

In  July,  1908,  Frederick  W.  Barker  became 
first  vice-president  of  the  company  and  his 
experience  and  general  ability  immediately 
contributed  to  the  institution's  increasing  suc- 
cess. Mr.  Barker  had  been  the  first  cashier 
of  the  Robert  Gere  Bank,  established  in  May, 
1880,  with  James  J.  Belden,  president.  When 
the  Robert  Gere  Bank  was  merged  with  the 
First   National    Bank    in    1900,   Mr.    Barker 


^ 


THE    STORY    OF  A  BANK 


27 


Thorp  Hiscock 
Assistant  Siiri-larv 


Albert  B.  Merrill 
.•l5S«5/u»ir  Secretary 


Frederick  K.  Maurer 

Secrt-lary 


Thomas  J.  Waldorf 
Assistant  Secretary 


Harr>'  VV.  Parrett 
Assistant  Secretary 


George  A.  Cholet 
Assistant  Treasurer 


William  A.  Bovd 

TtfdUiiir 


Eugene  A.  Tholens 
Assistant  Treasurer 


in  1916  was  elected  Chief  Judge,  being  the 
second  of  those  closely  connected  with  the 
Trust  Company  to  fill  that  high  position. 

Both  the  company  and  the  city  grew  rapidly 
during  the  years  between  1880  and  1890.  The 
population  of  Syracuse  more  than  doubled  in 
the  ten  years,  increasing  from  51,792  in  1880 
to  108,374  in  1890.  The  city  had  advanced  in 
many  other  ways,  notably  in  the  extent  and 
variety  of  its  manufacturing  plants,  and  the 
officers  and  directors  of  the  Trust  &  Deposit 
Company  on  its  twentieth  birthday  felt  that 
the  progress  of  the  institution  was  commen- 
surate with  that  of  the  rapidly  advancing  city. 

In  July,  1908,  Frederick  W.  Barker  became 
first  vice-president  of  the  company  and  his 
experience  and  general  ability  immediately 
contributed  to  the  institution's  increasing  suc- 
cess. Mr.  Barker  had  been  the  first  cashier 
of  the  Robert  Gere  Bank,  established  in  xMay, 
1880,  with  James  J.  Belden,  president.  When 
the  Robert  Gere  Bank  was  merged  with  the 
First   National    Bank    in    1900,    Mr.    Barker 


28 


THE    STORY    OF  A  BANK 


became  a  vice-president  of  the  latter  institu- 
tion. Later  he  was  president  of  the  State  Bank 
of  Syracuse,  the  position  he  held  when  elected 
first  vice-president  of  the   Trust   &   Deposit 

Company. 

In  1913  the  company,  steadily  advancing, 
entered  a  new  regime.  Mr.  Hendricks  resigned 
the  presidency  and  became  the  first  incum- 
bent of  the  newly-created  office  known  as 
chairman  of  the  board. 

To  the  presidency  was  elected  Arthur  W. 
Loasby,  his  election  taking  effect  July  1, 1913. 
The  new  president  had  virtually  grown  up 
amid  banking  environments  and  in  a  banking 
atmosphere.  Sixteen  years  previous  to  his 
election  to  the  presidency  he  had  begun  his 
banking  career  as  a  clerk  in  the  First  National 
Bank.  His  first  step  upward  made  him  a  loan 
teller  in  1900,  and  seven  years  later  he  was 
manager  of  the  Bond  Department.  Shortly 
afterwards  he  became  assistant  cashier.  In 
1910  he  was  vice-president  of  the  First  National 
and  three  years  later— having  been  just  sixteen 


THE    STORY    OF  A   BANK 


29 


I. 


years  on  the  way— was  elected  president  of  the 
Trust  &  Deposit  Company  and  also  a  direc- 
tor of  the  State  Bank  of  Syracuse. 

At  the  same  time  that  Mr.  Loasby  was 
elected  president,  Lucius  Kinne  was  chosen 
secretary  of  the  company.  Mr.  Kinne  was 
another  example  of  the  trained  banker  who 
wins  his  way  step  by  step.  He  had  been 
identified  with  the  company  from  the  70s,  and 
when  the  bank  was  young  had  served  as  a 
teller,  bookkeeper  and  manager  of  the  safe- 
deposit  vaults,  all  at  one  time. 

In  January,  1914,  the  capital  stock  of  the 
company  was  increased  from  $100,000.00,  the 
original  amount,  to  $500,000.00. 

In  September,  the  capital  stock  of  the 
company  was  increased  from  $500,000.00  to 
$1,000,000.00,  and  the  new  capital  was  used  in 
the  purchase  of  the  assets  and  business  of 
the  State  Bank  of  Syracuse,  which  discontin- 
ued business  on  October  1,  1914.  This  was 
the  first  bank  absorbed  by  the  Trust  Company 
in  its  upward  progress. 


THE    STORY    OF  A  BANK 


31 


Cook's  Coffee  House,  1865 
Site  of  the  Present  Home  of  the  First  Trust  &  Deposit  Company 


In  1910  the  Federal  census  gave  Syracuse  a 
population  of  137,249.  In  1915  the  State  cen- 
sus credited  the  city  with  146,587.  It  was  the 
fourth  of  the  interior  cities  of  the  state  in 
population,  and  the  fifth  in  industries.  The 
seemingly  hopeless  Httle  swamp-bound  settle- 
ment of  1819— when  it  first  secured  its  name 
and  a  separate  identity— had  grown  during  the 
century  into  an  important  and  bustling  munic- 
ipality—and the  Trust  &  Deposit  Company, 
in  its  forty-sixth  year  of  existence,  had  kept 
pace  with  the  growing  community. 

In  January,  1916,  Francis  Hendricks 
resigned  from  the  chairmanship  of  the  board 
of  trustees.  In  accepting  his  resignation  the 
trustees  took  occasion  to  refer  to  his  distin- 
guished services  to  the  company,  as  well  as  to 
the  community  at  large.  At  the  same  meeting 
the   office   of   Chairman  of   the   Board  was 

abolished. 

Death  again  entered  the  banking  family 
when  on  October  29,  1916,  James  Barnes 
passed  away.    He  had  served  the  company  as 


32 


THE 'STORY    OF  A  BANK 


THE    STORY    OF  A  BANK 


33 


secretary  from  March,  1878,  to  July,  1913, 
more  than  thirty-five  years.  He  resigned  his 
office  because  of  the  infirmities  of  age,  having 
reached  his  eighty-first  year.  He  continued 
to  serve  as  trustee  until  his  death. 

The  company  entered  all  the  activities  result- 
ing from  the  war  with  Germany  and  her  allies 
with  patriotic  enthusiasm,  contributing  men 
to  the  active  military  service  and  also  to  the 
organized  War-work  campaigns  of  Syracuse. 
Mr.  Loasby  served  as  chairman  of  the  Liberty 
Loan  Committee  for  Onondaga  County 
throughout  the  whole  period  of  the  war.  Mr. 
C.  A.  Chase,  one  of  the  trustees  of  the  com- 
pany, was  Coal  Administrator  for  the  City  of 
Syracuse.  Mr.  Huntington  B.  Crouse,  another 
trustee,  was  Food  Administrator. 

In  November,  1918,  the  Trust  &  Deposit 
Company  became  a  member  of  the  Federal 
Reserve  system. 

Close  and  pleasant  business  relations  had 
existed  for  years  between  the  Trust  Company 
and  the  First  National  Bank  of  Syracuse,  and 


there  developed  in  the  officers  and  directors 
active  in  the  management  of  the  two  institu- 
tions, a  belief  that  their  consolidation  would 
prove  to  the  advantage  of  both  and  to  the 
business  communities  which  they  served.    As 
a  result  a  plan  for  uniting  the  two  was  worked 
out  in  the  fall  of  1918  by  their  respective  offi- 
cers and  directors.     Briefly,  it  provided  for  a 
sale  to  the  Trust  Company  of  all  the  assets 
and  business  of  the  Bank  and  a  surrender  of 
the  charter  of  the  latter,  and  an  increase  in  the 
stock  of  the  Trust  Company  from  $1,000,000.00 
to  $2,500,000.00,  to  provide  the  capital  required 
to  make  the  above  purchase.     A  part  of  the 
shares  representing  the  new  capital  was  allotted 
to  the  stockholders  of  the  Bank  in  such  man- 
ner that  they  respectively  acquired  the  number 
thereof  equal  to  the   number   of    the    Bank 
shares  which  they  held  at  the  date  of  the  dis- 
continuance of  its  business,  and  the  remainder 
were  sold  to  the  stockholders  of  the  Trust 
Company,  including  therein  the  Bank  stock- 
holders  who   had    become   Trust    Company 


■J 


34 


THE    STORY   OF  A  BANK 


Stockholders  as  a  part  of  the  consolidation  of 
the  two  institutions.  As  a  part  of  the  consoli- 
dation, the  name  of  the  Trust  Company  was 
changed  to  "First  Trust  &  Deposit  Com- 
pany," and  the  board  of  thirteen  trustees  was 
replaced  by  a  board  of  thirty  directors  to  pro- 
vide for  representation  thereon  of  the  new 
stockholders  who  had  formerly  been  interested 
in  the  Bank. 

The  First  National  Bank  was  the  second 
bank  to  be  directly  taken  over  by  the  Trust 
Company,  but  inasmuch  as  the  Bank  had,  dur- 
ing its  existence,  taken  over  the  New  York 
State  Banking  Company  and  the  Robert  Gere 
Bank,  of  which  a  more  detailed  account  is 
contained  in  the  sketch  of  the  history  of  the 
Bank,  found  later  herein,  the  Trust  Company, 
by  the  last  consolidation,  took  unto  itself  the 
assets  and  business  of  four  banks  formerly 
prominent  in  the  business  life  and  history  of 
Syracuse. 

On  November  12, 1918,  a  special  meeting  of 
the   Board  was  called  to  act  upon  the  plan 


THE    STORY    OF  A  BANK 


35 


described  above,  and  to  authorize  the  submis- 
sion thereof  to  the  stockholders. 

On  December  6,  one  of  the  most  eventful 
days  in  the  history  of  the  company,  the  execu- 
tion of  the  contract  with  the  First  National 
Bank  was  ratified  and  approved  by  the  stock- 
holders. 

As  a  part  of  the  consolidation,  the  Trust 
Company  acquired  the  banking  house  of  the 
Bank  shown  on  page  10,  at  the  southeast  cor- 
ner of  South  Warren  and  East  Washington 
Streets,  and  on  January  1,  1919,  the  Bank  dis- 
continued business  and  the  Trust  Company 
took  possession  of  this  building,  making  it  the 
main  office  of  the  Company.  The  site  is 
famous  in  local  annals.  From  1868  until  1913 
the  Vanderbilt  Hotel  stood  upon  it,  and  for 
many  years  prior  it  had  been  occupied  by 
Cook's  Coffee  House,  a  noted  caravansary  and 
the  scene  of  many  stirring  events  in  the  history 
of  Syracuse.  The  old  quarters  of  the  Trust 
Company  in  the  Syracuse  Savings  Bank  Build- 
ing at  the  corner  of  North  Salina  and  James 


A 


i 


36 


THE    STORY   OF  A  BANK 


Streets  has  been  continued  as  a  North  Side 
Office. 

The  first  annual  meeting  of  the  First  Trust 
&  Deposit  Company  was  held  on  January  15, 
1919,  when  the  following  officers  were  elected: 

president 
Arthur  W.  Loasby 

vice-presidents 
Louis  S.  Brady  Frederick  W.  Barker 

Edward  S.  Tefft  Lucius  M.  Kinne 

Mercer  V.  White 

secretary 
Frederick  E.  Maurer 

assistant  secretaries 

Thorp  Hiscock  Thomas  J.  Waldorf 

Albert  B.  Merrill 

treasurer 
William  A.  Boyd 

ASSISTANT  treasurers 

George  A.  Cholet         Eugene  A.  Tholens 


THE    STORY    OF  A  BANK 


37 


President  Loasby,  under  whose  direction 
the  Trust  &  Deposit  Company  of  Onondaga 
had  grown  so  rapidly,  was  the  natural  choice 
for  president  of  the  new  organization. 

For  First  Vice-President,  Louis  S.  Brady, 
who  had  come  to  the  First  National  Bank  in 
1915  from  the  Fifth  Avenue  Bank  of  New  York 
City,  was  selected.  With  him  were  associated 
Frederick  W.  Barker,  identified  with  both  the 
Trust  &  Deposit  Company  of  Onondaga  and 
the  First  National  Bank;  Edward  S.  Tefft, 
another  veteran  banker;  Lucius  M.  Kinne, 
who  was  one  of  the  early  active  officers  of  the 
Trust  Company,  and  Mercer  V.  White,  who 
had  filled  the  position  of  trust  officer. 

For  secretary,  Frederick  E.  Maurer,  who  had 
served  as  assistant  secretary  of  the  Trust  Com- 
pany, was  chosen,  and  William  A.  Boyd,  who 
had  been  cashier  of  the  First  National  Bank, 
was  elected  to  the  office  of  treasurer. 

The  assistant  secretaries  and  assistant  treas- 
urers were  selected  with  the  view  to  building 


38 


THE    STORY   OF  A  BANK 


an  organization  that  would  be  efficient  and 
progressive. 

The  directors  of  the  first  and  present  Board 
of  the  First  Trust  &  Deposit  Company  are: 


Frederick  P.  Assmann 
F.  W.  Barker 
Charles  J.  Barnard 
Louis  S.  Brady 
Alexander  T.  Brown 
William  R.  Cahill 

H.  WiNFIELD  ChAPIN 

C.  A.  Chase 
A.  H.  CowiE 
Charles  M.  Crouse 
H.  B.  Crouse 
George  Doheny 
E.  L.  French 
Henry  H.  S.  Handy 
Alfred  W.  Hudson 


M.  Crouse  Klock 
W.  S.  Landon 

A.  W.  LOASBY 

John  A.  Mathews 
Irving  S.  Merrell 
A.  E.  Parsons 
Edward  L.  Pierce 
Edward  I.  Rice 
Bert  E.  Salisbury 
Dr.  L.  a.  Saxer 
Deforest  Settle 
W.  W.  Wiard 
Horace  S.  Wilkinson 
Leroy  B.  Williams 
Edwin  D.  Winkworth 


J 


CHAPTER  II 

THE  FIRST  NATIONAL  BANK 
OF  SYRACUSE 

THE  First  National  Bank  of  Syracuse 
was  organized  through  the  energy  and 
foresight  of  Edward  B.  Judson,  to  whom 
reference  has  previously  been  made,  on  April 
11,  1863,  under  the  National  Bank  Act  of 
February  25  of  that  year.  Mr.  Judson  was 
determined  that  Central  New  York  should  be 
one  of  the  first  sections  in  the  country  to 
inaugurate  the  new  system. 

Charters  were  issued  to  the  bank  applicants 
in  June,  1863,  and  charter  No.  6  fell  to  the 
First  National  Bank  of  Syracuse.  This  was  the 
first  charter  granted  a  New  York  bank,  the 
state  receiving  but  one  charter  out  of  the  first 
twelve— Ohio  taking  five,  Pennsylvania  two, 
Connecticut  two,  Indiana  one,  IlHnois  one  and 
New  York  one. 

The  capital  stock  of  the  First  National  Bank 
of  Syracuse  was  $100,000.00  and  the  original 


THE    STORY    OF  A  BANFC 


41 


Stockholders  were:  Dennis  McCarthy,  Ger- 
shom  P.  Kenyon,  Charles  B.  Sedgwick,  John 
M.  Jaycox,  John  W.  Barker,  Orlin  Mead,  C. 
Tyler  Longstreet,  John  Crouse,  Edward  B. 
Judson.     All  were  residents  of  Syracuse. 

On  April  20,  1863,  the  nine  men  who  sub- 
scribed for  the  stock  of  the  new  bank  were  con- 
stituted the  first  Board  of  Directors.  Edward 
B.  Judson  was  elected  president  and  John 
Crouse,  vice-president.  On  July  20  the  bank 
was  opened  for  business  at  No.  16  Salina  Street. 
From  these  primitive  quarters  the  institution 
soon  removed  to  the  Bastable  Block. 

In  October  the  directors  felt  warranted  by 
the  unexpected  press  of  business  to  increase 
the  capital  stock  to  $250,000.00. 

In  1873  when  the  First  National  was  ten 
years  old,  it  had  a  staff  of  five  employees,  one  of 
whom  was  Edward  N.  Westcott,  who  became 
famous  as  the  author  of  "David  Harum,"  in 
which  the  character  of  John  Lennox  is  gener- 
ally regarded  as  a  portrayal  of  the  author. 

In  1876  the  bank  entered  a  new  home  in  the 


111 


1 


THE    STORY   OF  A  BANK 


43 


h 


The  President's  Office 


i 


east  end  of  the  building  of  the  Onondaga 
County  Savings  Bank  on  Water  Street,  where 
it  remained  for  twenty  years.  There  were 
changes— deaths,  removals,  resignations— in 
the  Board  of  Directors,  but  the  bank  contin- 
ued its  steady  growth.  At  the  end  of  the  first 
year  its  assets  were  $232,000.00,  and  in  1883 
they  had  increased  to  $1,500,000.00. 

In  1897  the  First  National  removed  to  the 
new  building  erected  by  the  Onondaga  County 
Savings  Bank  at  the  junction  of  South  Salina 
and  East  Water  and  East  Genesee  Streets, 
where  convenient  and  attractive  quarters  were 
secured  on  the  Genesee  Street  front.  These 
quarters  for  a  time  proved  sufficiently  com- 
modious to  accommodate  the  bank's  growing 
requirements.  During  this  period  the  First 
National  took  over  the  business  of  two  State 
banks  located  in  Syracuse,  the  New  York  State 
Banking  Company,  which  had  become  insol- 
vent, and  the  young  and  vigorous  Robert  Gere 
Bank.  The  latter  institution  was  established 
in  May,  1880,  by  James  J.  Belden,  and  was 


I 

) 


I 


THE    STORY    OF  A  BANK 


45 


The  Banking  Room 


i 


named  after  Mrs.  Belden's  father,  a  leading 
business  man  of  the  city.  The  original  officers 
of  the  Robert  Gere  Bank  were:  James  J. 
Belden,  President;  A.  Cadwell  Belden,  Vice- 
President;  Frederick  W.  Barker,  Cashier.  The 
president  and  cashier  retained  their  offices 
throughout  the  history  of  the  institution.  The 
transfer  to  the  First  National  Bank  was  ef- 
fected on  March  3,  1900. 

President  Edward  B.  Judson  died  in  January, 
1902,  after  thirty-nine  years  of  continuous 
service  as  president  of  the  bank  he  founded 
and  fostered.  He  was,  as  shown  by  the  refer- 
ences previously  made  to  him  herein,  a  man 
of  many  activities,  a  public-spirited  citizen,  a 
philanthropist,  and  his  death  was  a  serious 
loss  to  both  the  bank  and  the  city.  He  was 
succeeded  in  the  presidency  by  his  son, 
Edward  B.  Judson,  Jr. 

The  business  of  the  First  National  doubled 
in  its  first  twenty  years.  It  doubled  again  in 
its  next  ten  years.  In  January,  1910,  President 
E.   B.   Judson,  Jr.,  died,   and   Vice-President 


The  Directors'  Roou 


THE    STORY    OF  A  BANK 


47 


Charles  W.  Snow  succeeded  him.  Mr.  Snow's 
successor  as  vice-president  was  Albert  P. 
Fowler,  and  a  little  later,  Arthur  W.  Loasby 
was  elected  to  the  vice-presidency,  which 
had  remained  vacant  since  the  retirement 
of  Frederick  W.  Barker,  who  became  Presi- 
dent of  the  State  Bank. 

In  1913  land  was  secured  for  a  new  banking 
and  office  building.  In  April  the  capital  stock 
of  the  First  National  was  increased  from 
$250,000.00  to  $1,000,000.00. 

In  June,  1913,  Vice-President  Loasby  re- 
signed to  accept  the  presidency  of  the  Trust 
&  Deposit  Company  of  Onondaga.  Mr. 
Loasby  had  been  with  the  First  National 
Bank  sixteen  years,  and  was  the  third  executive 
officer  of  that  bank  to  accept  the  presidency 
of  another  Syracuse  banking  institution. 

Shortly  after  Mr.  Loasby's  resignation 
Alfred  W.  Hudson  was  elected  Vice-President 
to  succeed  him.  Mr.  Hudson  began  his  bank- 
ing career  with  the  Fifth  Avenue  Trust  Com- 
pany of  New  York,  later  entering  the  State 


THE    STORY    OF  A  BANK 


49 


Reception  Room  for  Women 


t  : 


m 


Banking  Department,  becoming  Deputy 
Superintendent  of  Banks,  which  office  he  held 
for  several  years,  when  he  resigned  to  become 
Deputy  Comptroller  of  the  State  of  New 
York.  In  1914  Mr.  Snow  resigned  as  President 
and  became  Chairman  of  the  Board,  and  at 
this  time  Mr.  Hudson  was  elected  President, 
which  office  he  held  until  the  merger  of  the 
Bank  and  the  Trust  Company  was  effected 

on  January  1,  1919.       i 

In  November,  1918,  came  the  official  an- 
nouncement of  the  proposed  tentative  plan 
of  the  merger  of  the  First  National  with  the 
Trust  &  Deposit  Company  of  Onondaga,  of 
which  an  account  is  contained  in  the  Trust 
Company  history.  In  December,  the  execu- 
tion of  the  merger  contract  was  ratified  and 
the  details  approved. 


The  foregoing  sketches  have  brought  the 
histories  of  the  Trust  &  Deposit  Company 
of  Onondaga  and  the  First  National  Bank 
down  to  January  1,  1919,  the  date  of  their 


THE    STORY    OF  A  BANK 


51 


The  Safe  Deposit  Department 


consolidation  into  the  First  Trust  &  Deposit 
Company,  the  largest  banking  institution  in 
the  State  of  New  York  outside  of  those  in  the 
cities  of  the  first  class.  To  the  future,  the 
"First  Trust,''  as  it  is  already  popularly  and 
colloquially  termed,  looks  forward  confident 
of  a  continuance  of  its  prosperity  and  the 
maintenance  of  the  happy  relations  which 
have  always  existed  between  it  and  all  whose 
business  brings  them  into  contact  with  it.  No 
trust  company  or  bank  surpasses  it  in  the 
facilities  and  convenience  which  it  offers  for 
the  transaction  of  business. 

The  building  of  the  First  Trust  &  Deposit 
Company  is  one  of  the  finest  structures  in 
Syracuse,  and  one  of  the  most  complete  bank- 
ing homes  in  the  nation.  The  area  of  the  site 
is  12,540  square  feet.  The  original  cost. of 
site  and  building  was  in  excess  of  $600,000.00. 
The  foundation  walls  and  steel  work  were 
designed  for  a  twelve-story  structure,  but  the 
amended  plans  provided  for  a  four-story  build- 
ing, the  three  lower  stories  of  white  granite, 


THE    STORY    OF  A  BANK 


51 


The  Safe  Deposit  Department 


consolidation  into  the  First  Trust  &  Deposit 
Company,  the  largest  banking  institution  in 
the  State  of  New  York  outside  of  those  in  the 
cities  of  the  first  class.  To  the  future,  the 
'Tirst  Trust,"  as  it  is  already  popularly  and 
colloquially  termed,  looks  forward  confident 
of  a  continuance  of  its  prosperity  and  the 
maintenance  of  the  happy  relations  which 
have  always  existed  between  it  and  all  whose 
business  brings  them  into  contact  with  it.  No 
trust  company  or  bank  surpasses  it  in  the 
facilities  and  convenience  which  it  offers  for 
the  transaction  of  business. 

The  building  of  the  First  Trust  &  Deposit 
Company  is  one  of  the  finest  structures  in 
Syracuse,  and  one  of  the  most  complete  bank- 
ing homes  in  the  nation.  The  area  of  the  site 
is  12,540  square  feet.  The  original  cost. of 
site  and  building  was  in  excess  of  $600,000.00. 
The  foundation  walls  and  steel  work  were 
designed  for  a  twelve-story  structure,  but  the 
amended  plans  provided  for  a  four-story  build- 
ino-,  the  three  lower  stories  of  white  granite, 


THE    STORY   OF  A  BANK! 


53 


View  of  the  Banking  Room  from  the  Balcony 


the  fourth  story  of  white  terra  cotta.  Steel 
girders  and  hard  brick  construction  walls 
make  the  edifice  as  fireproof  as  modern  build- 
ing science  can  devise. 

With  the  completion  of  the  consolidation  of 
the  two  institutions,  plans  were  immediately 
set  in  motion  for  improvements  of  the  banking 
rooms,  designed  to  add  to  their  facilities,  their 
convenience  and  their  beauty. 

With  these  additions  and  embellishments 
completed  it  is  doubtful  if  there  is  a  bank 
structure  in  the  country  that  excels  the  build- 
ing of  the  First  Trust  &  Deposit  Company 
in  architectural  beauty  and  in  essential  con- 
venience and  modern  completeness. 

The  main  banking  room  is  bright  and 
spacious  and  the  ceiling  has  a  height  of  twenty- 
five  feet.  At  the  rear  of  the  main  room  is  the  safe 
deposit  department  where  every  safeguarding 
device  known  to  building  skill  is  utilized  for 
the  protection  of  the  great  vault. 

The  basement  is  fitted  up  for  the  storage  of 
the  bank's  books  and  other  property  and  for 


I 


■>,  ■■'  >*"!^S. 


II   III    III  ill t 


View  of  the  Banking  Room  from  the  Balcony 


THE    STORY    OF  A  BANK 


53 


the  fourth  story  of  white  terra  cotta.  Steel 
girders  and  hard  brick  construction  walls 
make  the  edifice  as  fireproof  as  modern  build- 
ing science  can  devise. 

With  the  completion  of  the  consolidation  of 
the  two  institutions,  plans  were  immediately 
set  in  motion  for  improvements  of  the  bankmg 
rooms,  designed  to  add  to  their  facilities,  their 
convenience  and  their  beauty. 

With  these  additions  and  embellishments 
completed  it  is  doubtful  if  there  is  a  bank 
structure  in  the  country  that  excels  the  build- 
ing of  the  First  Trust  &  Deposit  Company 
in  architectural  beauty  and  in  essential  con- 
venience and  modern  completeness. 

The  main  banking  room  is  bright  and 
spacious  and  the  ceiling  has  a  height  of  twenty- 
five  feet.  At  the  rear  of  the  main  room  is  the  safe 
deposit  department  where  every  safeguarding 
device  known  to  building  skill  is  utilized  for 
the  protection  of  the  great  vault. 

The  basement  is  fitted  up  for  the  storage  of 
the  bank's  books  and  other  property  and  for 


THE    STORY    OF  A  BANK 


55 


; 


1 


The  Bookkeeping  Department 


M'   1 


the  safeguarding  of  large  articles  or  packages 
belonging  to  bank  customers. 

All  that  mahogany  and  marble  and  bronze 
and  ornamental  details  and  rich  decorations 
can  do  to  make  the  building  pleasing  and 
practical  for  both  patrons  and  employees  has 
been  done  unstintedly. 

In  order  to  accommodate  the  public  more 
thoroughly,  and  to  exemplify  the  slogan, 
"The  Bank  of  Personal  Service,"  the  First 
Trust  &  Deposit  Company  continues  to  use 
the  rooms  so  long  occupied  by  the  Trust  & 
Deposit  Company  of  Onondaga,  on  North 
SaUna  Street,  which  are  known  as  the  North 
Side  office,  the  main  office  being  in  the  South 
Warren  Street  structure. 

While  it  is  pleasant  to  be  able  to  offer  to 
the  public  the  plant  and  conveniences  to 
which  we  have  alluded,  we  realize  that  those 
are  but  superficial  recommendations.  The 
faith  of  a  community  in  a  bank  rests  not  upon 
stone  or  steel,  but  upon  the  confidence 
possessed  by  the  people  in  the  men  respon- 


The  Bookkeeping  Department 


THE    STORY    OF  A  BANK 


55 


the  safeguarding  of  large  articles  or  packages 
belonging  to  bank  customers. 

All  that  mahogany  and  marble  and  bronze 
and  ornamental  details  and  rich  decorations 
can  do  to  make  the  building  pleasing  and 
practical  for  both  patrons  and  employees  has 
been  done  unstintedly. 

In  order  to  accommodate  the  public  more 
thoroughly,  and  to  exemplify  the  slogan, 
"The  Bank  of  Personal  Service,"  the  First 
Trust  &  Deposit  Company  continues  to  use 
the  rooms  so  long  occupied  by  the  Trust  & 
Deposit  Company  of  Onondaga,  on  North 
SaUna  Street,  which  are  known  as  the  North 
Side  office,  the  main  office  being  in  the  South 
Warren  Street  structure. 

While  it  is  pleasant  to  be  able  to  offer  to 
the  public  the  plant  and  conveniences  to 
which  we  have  alluded,  we  realize  that  those 
are  but  superficial  recommendations.  The 
faith  of  a  community  in  a  bank  rests  not  upon 
stone  or  steel,  but  upon  the  confidence 
possessed  by  the  people  in  the  men  respon- 


56  THE    STORY    OF  A  BANK 

sible  for  its  management.    Of  those  who  are 
now  the  directors  and  officers  of  the  Company, 
it  would  be  inappropriate  to  speak.     By  their 
works,  not  words,  must  they  be  known.    To 
the  long  line  of  eminent  and  honorable  men 
who  have  watched  over  the  welfare  of  the 
Company  and  of  its  depositors  and  customers 
during  the  fifty  years  of  its  existence,  we  may 
point  with  pride.     It  is  an  inspiration  to  us  to 
preserve  in  the  future  the  faith  born  of  the 
past.      The  brief  sketches  herein  contained 
are  offered  in  commemoration  of  a  half-cen- 
tury of  work  of  which  we  are  proud.    We 
hope  that  we  may  so  do,  that  when  the  full 
century  of  the  Company's  existence  shall  have 
been  rounded  out,  those  who  shall  fill  the 
places  which  we    fill    now    will   be   able   to 
speak  of  the  institution  which  we  shall  have 
passed  on  to  them  as  proudly  as  we  speak  of 
it  today.     If  so,  the  reward  will  be  sufficient. 

The  Directors  and  Officers 

of  the 

First  Trust  &  Deposit  Company 


THE    STORY   OF  A  BANK 

OFFICIAL  ROSTER— 1868-1919 


57 


presidents 


C.  T.  LONGSTREET 

1868- 

Dudley  P.  Phelps 

1868-1878 

John  J.  Crouse 

1878-1881 

Joel  Thayer 

1881- 

George  Barnes 

1881-1888 

Francis  Hendricks 

1888-1913 

Arthur  W.  Loasby 

1913- 

vice-presidents 

D.  P.  Wood 

1868-1878 

Edward  B.  Judson 

1868-1874 

C.  T.  LONGSTREET 

1874-1875 

Lyman  Clary 

1875-1876 

Peter  Burns 

1876-1878 

George  Barnes 

1878-1881 

Matthew  J.  Myers 

1878-1881 

Frank  Hiscock 

1881-1899 

Jonathan  C.  Chase 

1881-1888 

George  Barnes 

1888  1892 

F.  H.  Hiscock 

1892-1907 

A.  K.  Hiscock 

1899-1908 

Frank  Hiscock 

1907-1914 

Frederick  W.  Barker 

1908- 

Louis  S.  Brady 

1918- 

Lucius  M.  Kinne 

1918- 

Edward  S.  Tefft 

1918- 

Mercer  V.  White 

1918- 

I) 


58 


THE    STORY    OF  A  BANK 


SECRETARIES 

Matthew  J.  Myers 

James  Barnes 

L.  M.  KiNNE,  Assistant 

L.  M.  KiNNE,  Secretary 

M.  V.  White,  Assistant 

Thorp  Hiscock,  Assistant 

Frederick  E.  Maurer.  Assistant 

Frederick  E.  Maurer.  Secretary 

T.  J.  Waldorf,  Assistant 

A.  B.  Merrill,  Assistant 

Harry  W.  Parrett,  Assistant 

treasurers 

William  A.  Boyd 

Geo.  a.  Cholet,  Assistant 

E.  A.  Tholens,  Assistant 


1868-1878 

1878-1913 

1903-1913 

1913-1918 

1917-1918 

1917- 

1917-1918 

1918" 

1918- 

1918- 

1919- 


1918- 
1918- 
1918- 


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END  OF 
TITLE 


